The 22-year-old Osasuna winger has signed with Niagara Sports, the same agency that represents Joan García and Dani Olmo — two players with strong connections to Barcelona. Transfer journalist Matteo Moretto, speaking on Despierta San Francisco, flagged the move as a potential clue about where Muñoz could be heading.
"Víctor Muñoz has signed with a new agency, Niagara Sports, the same one that represents Joan García and Dani Olmo. This could be a clue about his future."
Moretto confirmed Barcelona's genuine interest in the player.
"It's true that Barça is watching him, and he's a player they like because it's still unclear whether Rashford will stay."
The personal angle adds another layer.
"Furthermore, he has a very good relationship with Lamine and other Barça teammates on the national team."
Muñoz has been one of the standout performers in La Liga this season — five goals and two assists — and made his Spain debut last month, scoring against Serbia just nine minutes into the game. He came through La Masia before leaving as a teenager and later developed through Real Madrid's academy, making his senior debut in El Clásico last May.
The transfer situation is complicated by Real Madrid's position. Los Blancos sold 50% of Muñoz's rights to Osasuna last summer for around €5 million but retained a buy-back clause worth €8 million, valid this summer. Cadena SER have reported that Real Madrid are already planning to trigger it.
That creates a hard blocker for Barcelona. If the Blaugrana try to agree a fee directly with Osasuna before Madrid move, Real Madrid are expected to activate the clause immediately to prevent a youth product from joining their fiercest rival.
Osasuna's release clause stands at €40 million. His market value has already climbed well beyond what Madrid paid, which makes the €8 million buy-back one of the most significant bargains in this summer's market — whoever ends up using it.